Agriculture is an industry that never sleeps. It’s forever moving, changing and growing, with the U.S. Department of Agriculture on the cusp of the latest developments. Stay abreast of the most recent news coming out of the USDA.
U.S. Agriculture Secretary Tom Vilsack traveled to China in late November, highlighting how exports to China have risen sharply in the past decade. China is the fastest-growing and highest-value export destination, having surpassed Canada back in 2011, according to the USDA. About 16 percent of all U.S. exports head for China. Such exports are expected to increase in the future, though perhaps at a slower rate. Read more here.
At the very end of November, the USDA released Rural America At A Glance, 2015 Edition, which outlines the state of rural U.S.A. To summarize the highlights, rural employment has increased, population decline has remained the same or improved and the rural child poverty rate has declined by one percentage point. The news is positive, showing the continued need for investments that target rural people and places, such as the StrikeForce Initiative for Rural Growth and Opportunity. Read more here.
Clean, American-made, renewable fuels are the wave of the future. In light of climate change and environmental concerns, many Americans want energy options that are environmentally friendly, renewable and affordable. In an effort to facilitate such options and rural developments at the same time, the USDA announced in December a conditional commitment for a $70 million loan guarantee for a cellulosic biorefinery in Georgia, through its Biorefinery Assistance Program. Read more here.
As agricultural lenders, AgAmerica Lending supports all aspects of agriculture. We are proud to help agribusiness to grow and prosper with our unique land loans that offer low interest rates, long amortizations, and outstanding 10-year line of credit.